Saban Brands, the company behind Mighty Morphin Power Rangers, has confirmed that Namco Bandai will continue a new long-term deal to develop toy and video games based on the Mighty Morphin Power Rangers. Saban has also made headlines today, after it has reacquired the Power Rangers property from owner Disney.

Saban’s new ownership includes the 17 previous seasons of the franchise’s TV episodes. Saban plans on partnering with Nickelodeon to bring 20 new episodes of Power Rangers to air next year, across Nickelodeon and Nicktoons channels. The 18th season of the show will feature a new cast, new look and different theme.

“Power Rangers is one of the world’s leading children’s entertainment properties and we are delighted to see its return,” said Haim Saban, chairman and chief executive officer, Saban Capital Group, Inc.

This marks the second major old school franchise Nickelodeon plans to air next year, as they’ve recently acquired the rights to the Teenage Mutant Ninja Turtles.

Are you excited about new Power Rangers video games and TV episodes in 2011?